New Issue: ABN Amro prices $2 million 10.75% reverse convertibles linked to Schering-Plough

New York, June 27 - ABN Amro Bank NV priced $2 million of 10.75% Knock-In Reverse Exchangeable notes due June 30, 2009 linked to Schering-Plough Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Payout at maturity will be par in cash unless Schering-Plough shares fall below the protection price of $13.81, 70% of the initial price of $19.73, during the life of the notes and finish below the initial price in which case the payout will be 50.684 shares of Schering-Plough stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Schering-Plough Corp. (Symbol: SGP)
Amount:	$2 million
Maturity:	June 30, 2009
Coupon:	10.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Schering-Plough shares fall below the protection price of $13.81, 70% of the initial price, and finish below the initial price, in which case 50.684 shares of Schering-Plough stock
Initial price:	$19.73
Protection price:	$13.81, 70% of $19.73
Exchange ratio:	50.684
Pricing date:	June 25
Settlement date:	June 30
Agent:	ABN Amro Inc.
Fees:	3%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.